James Hardie Industries (NYSE:JHX) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of James Hardie Industries (NYSE:JHX) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Several other brokerages have also recently issued reports on JHX. Jefferies Financial Group reaffirmed a “buy” rating on shares of James Hardie Industries in a research note on Thursday, January 30th. Morgan Stanley raised shares of James Hardie Industries from an “equal weight” rating to an “overweight” rating in a research note on Monday, March 24th. Truist Financial dropped their price objective on shares of James Hardie Industries from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday. Macquarie cut shares of James Hardie Industries from an “outperform” rating to a “neutral” rating in a research note on Monday, March 24th. Finally, Raymond James set a $55.00 price target on shares of James Hardie Industries in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, James Hardie Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.12.

James Hardie Industries Stock Down 3.4%

JHX stock opened at $23.90 on Wednesday. James Hardie Industries has a 52 week low of $19.72 and a 52 week high of $43.57. The stock has a market capitalization of $10.27 billion, a P/E ratio of 23.66, a P/E/G ratio of 6.16 and a beta of 1.80. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $24.15 and a 200-day simple moving average of $30.03.

James Hardie Industries (NYSE:JHX) last announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). James Hardie Industries had a net margin of 11.15% and a return on equity of 33.65%. The business had revenue of $971.50 million for the quarter, compared to analysts’ expectations of $983.86 million. During the same period in the prior year, the company posted $1.61 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. Equities analysts forecast that James Hardie Industries will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of James Hardie Industries

Hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of James Hardie Industries in the 4th quarter valued at approximately $27,000. TD Private Client Wealth LLC grew its stake in shares of James Hardie Industries by 45.3% in the 4th quarter. TD Private Client Wealth LLC now owns 972 shares of the construction company’s stock valued at $30,000 after buying an additional 303 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of James Hardie Industries in the 4th quarter valued at approximately $55,000. SVB Wealth LLC purchased a new stake in shares of James Hardie Industries in the 1st quarter valued at approximately $57,000. Finally, Huntington National Bank grew its stake in shares of James Hardie Industries by 64.7% in the 4th quarter. Huntington National Bank now owns 2,260 shares of the construction company’s stock valued at $70,000 after buying an additional 888 shares during the period. Hedge funds and other institutional investors own 7.96% of the company’s stock.

James Hardie Industries Company Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.